Lisanti Capital Growth LLC Takes Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Lisanti Capital Growth LLC purchased a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,365 shares of the company's stock, valued at approximately $1,812,000. Lisanti Capital Growth LLC owned about 0.06% of Soleno Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Avanza Fonder AB lifted its stake in Soleno Therapeutics by 14.8% in the first quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock valued at $144,000 after purchasing an additional 251 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Soleno Therapeutics by 8.6% in the first quarter. SG Americas Securities LLC now owns 4,397 shares of the company's stock worth $314,000 after purchasing an additional 350 shares during the period. Corebridge Financial Inc. grew its position in Soleno Therapeutics by 2.9% during the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock worth $572,000 after buying an additional 357 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Soleno Therapeutics by 24.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after buying an additional 522 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after buying an additional 658 shares in the last quarter. 97.42% of the stock is owned by institutional investors.

Soleno Therapeutics Stock Up 4.3%

Shares of SLNO traded up $3.58 on Wednesday, reaching $86.21. The stock had a trading volume of 971,851 shares, compared to its average volume of 790,865. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 19.64. Soleno Therapeutics, Inc. has a 12-month low of $39.41 and a 12-month high of $87.66. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -18.66 and a beta of -2.63. The company has a 50-day simple moving average of $77.11 and a 200-day simple moving average of $60.60.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. Sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

SLNO has been the subject of several recent research reports. Laidlaw boosted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. UBS Group set a $105.00 price objective on shares of Soleno Therapeutics in a research report on Thursday, March 27th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Guggenheim raised their target price on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus boosted their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a report on Friday, March 28th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $107.10.

About Soleno Therapeutics

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.